RTD tea is packaged tea in its prepared beverage form and ready for consumption. The global RTD tea market accounted for approximately USD 21.30 billion in 2018 and is expected to register a CAGR of 5.7% during the forecast period. The RTD tea has gained popularity among the health-conscious population. Owing to the increasing per capita disposable incomes, busy lifestyles, and growing demand for on-the-go beverages, the global RTD tea market size is projected to grow significantly in the coming years. Moreover, availability of RTD tea in a variety of flavors is an added advantage for the market growth. Growth of the organized retail sector and the increasing presence of RTD tea in supermarkets and hypermarkets are projected to further boost the growth of the global RTD tea market.
The global RTD tea market has been segmented based on type, category, packaging, distribution channel, and region.
Based on type, the global RTD tea market has been segmented into black tea, green tea, white tea, and others. The black tea segment accounted for the largest global RTD tea market share in 2018. Its popularity as a traditional tea across the globe has resulted in the dominance of the segment over the past years. However, the green tea segment is projected to register the highest CAGR during the forecast period. Green tea is unoxidized and contains less caffeine than other types of tea. Moreover, it helps to regulate the metabo.
Key Players
Some of the key players in the global RTD tea market are Nestle S.A. (Switzerland), ITO EN LTD. (Japan), PepsiCo, Inc. (US), Hain Celestial Group (US), The Republic of Tea (US), Tata Global Beverages (India), Bearfield (Netherlands), Unilever (UK), Starbucks Corporation (US), Dilmah (Sri Lanka), Snapple Beverage Corp. (US), Coca-Cola Company (US), Harney & Sons Fine Teas (US), Inko's Tea (US), and Blu-Dot Beverage Company (Canada).
Some of the strategies followed by the players operating in the market were product launches, acquisitions, mergers, and expansions.
Regional Analysis
On the basis of region, the global RTD tea market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The market in North America is expected to dominate the global RTD tea market owing to increasing consumption of healthy beverages in the region. In North America, the US is projected to hold the majority market share.
Growing demand for functional beverages in European countries is primarily contributing to the growth of RTD tea market in Europe. However, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period. Growing focus on health and wellness among the consumers and increasing spending on healthy food and beverages is mainly driving the growth of the RTD tea market in this region.
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Industry Updates
In November 2018, Coca-Cola European Partners plc invested USD 21.5 million in a new bottling line at its production facility in Socx, France. The expansion of this new line would support the development of the Coca-Cola company's Fuze Tea brand in glass bottle format, with production at the plant destined to serve markets in neighboring European countries.
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